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UBS launches "Tap" trading strategy in Asia Pacific

Hong Kong
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19 Aug 2009, 07:24
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Media Releases APAC

As part of the continued expansion of its global algorithmic trading platform, UBS's Global Equities business today announced the launch in Asia Pacific of the advanced algorithmic trading strategy, UBS Tap.

Tap is an automated trading strategy that seeks out multiple sources of liquidity in the market, while offering traders a range of urgency options that control how fast an order fills and how much of the order will interact with displayed markets and non-displayed liquidity.

"Tap is the most agile algorithm yet and provides traders with ultimate control. It is designed for traders who wish to minimize their potential market impact on their order but, at the same time, reduce the risks of opportunity cost," said YANG Xia, Managing Director and Head of Algorithmic Trading for UBS in Asia Pacific.

UBS Tap was originally launched in the US in response to client requests for a liquidity-seeking strategy that used advanced logic to access multiple trading venues efficiently and quietly. Built specifically for APAC's unique markets, the regional launch of Tap provides UBS clients who trade in Australia, Hong Kong and Japan with access to intelligent and high-quality execution.

"UBS is a market share leader in Asia Pacific. We have the number-one share in Australia and Hong Kong and are a leading liquidity provider in Japan. Tap allows our clients to take advantage of this massive liquidity more effectively than ever before via the UBS Price Improvement Network (UBS PIN)," said SAITO Takayuki, Head of Direct Execution for APAC.

TapNow is a highly aggressive variant of Tap. It seeks liquidity with high urgency for situations in which speed of execution is critical. TapNow is also designed to access displayed and non-displayed market liquidity-sources simultaneously, and so optimize crossing opportunities while, at the same time, targeting urgent order completion.